Business News
-
Exports to China jump 44.53% in 7 months | The Express Tribune
.
[ad_1] ISLAMABAD: Pakistan’s export of goods and services to China witnessed an increase of 44.53% during the first seven months of the current fiscal year (2023-24) as compared to the exports of the corresponding period of last year, the State Bank of Pakistan (SBP) reported. The data revealed that overall exports to China were recorded…
-
Bitcoin hits $60,000 as rally gathers pace | The Express Tribune
.
[ad_1] LONDON: Bitcoin hit $60,000 on Wednesday for the first time in more than two years, as a flurry of capital into new US spot bitcoin exchange traded products fuelled a 42% price rally in February, which would mark its largest monthly gain since December 2020. Bitcoin was last up 6% at $60,131, its highest…
-
Reliance on renewables a must | The Express Tribune
.
[ad_1] Open access policies and the implementation of the Competitive Trading Bilateral Contract Market (CTBCM) are crucial steps towards enhancing energy adoption in Pakistan, said Abubakar Ismail, Head of Energy & Sustainability at Amreli Steels Limited. Photo: file ISLAMABAD: Pakistan’s ambitious renewable energy plans need to be coupled with close attention to addressing the system’s…
-
NEPRA puts livelihoods at risk, say traders | The Express Tribune
.
[ad_1] According to the data provided to Nepra, energy generation in June 2021 was recorded at 14,361.17 GWh. PHOTO: FILE KARACHI: The business community, distraught by the increasing cost of inputs, has appealed to the government to stop the National Electric Power Regulatory Authority (Nepra) from taking anti-people and anti-business decisions as businesses are on…
-
Pakistan ‘secures’ $2 billion loan rollover from China
.
[ad_1] Currency dealer trader counts the US dollar notes at a currency exchange office, in Karachi July 13, 2023. — PPI ISLAMABAD: In a major boost to the country’s foreign exchange reserves, China has rolled over $2 billion to Pakistan, Ministry of Finance sources told Geo News on Wednesday. Pakistan has borrowed $2 billion from…
-
China agrees to rollover $2b debt on existing terms | The Express Tribune
.
[ad_1] ISLAMABAD: China has agreed to rollover a $2 billion debt on existing terms after initially seeking a hike in price, as Pakistan’s policy to maintain foreign exchange reserves through deposits by three countries is becoming costly due to a 118% surge in interest cost. The Ministry of Finance officials said that an understanding has…
-
DISCOs: govt to adopt Turkish model | The Express Tribune
.
[ad_1] The key challenges faced by DISCOs included poor governance and inadequate investment. Therefore, they were placed on the active privatisation list but the process could not move forward. Photo: file ISLAMABAD: Pakistan has decided to follow the Turkish model through outsourcing the management of power distribution companies (DISCOs) in an attempt to reduce losses,…
-
Businessmen decry hike in terminal charges | The Express Tribune
.
[ad_1] Businessmen demanded the formation of a regulatory authority for the container terminals to ensure a better working environment. Photo: File KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Senior Vice President (SVP) Saquib Fayyaz Magoon has said that the business, trade and industrial community is in a state of shock and disbelief…
-
Daraz announces layoffs in memo | The Express Tribune
.
[ad_1] KARACHI: Alibaba-owned e-commerce platform Daraz Group has announced layoffs across the group to “adopt a more streamlined and agile structure”, acting Chief Executive Officer James Dong said on Tuesday in an internal memo to employees reviewed by Reuters. The memo did not mention the number of people affected by the layoff. Daraz declined to…
-
US sanctions ‘may not apply’ to IP project | The Express Tribune
.
[ad_1] ISLAMABAD: Pakistan on Tuesday said the US sanctions might not apply to Iran-Pakistan (IP) gas pipeline project at a stage when Islamabad was going to lay pipeline within its territory and not connecting it with the neighbouring country. “I don’t think that the US sanctions can apply to the IP project at this stage,”…
